Doug Naidus made his fortune selling a mortgage company to Deutsche Bank AG months before the U.S. housing market collapsed. Now he’s found a way to profit from loans to business owners with bad credit.
As dawn breaks over the Gulf of Fonseca, southeast of El Salvador, Patri Friedman sets out for a jog. He trots past domed hothouses filled with fruit trees and feels the sidewalk sway gently underfoot as a tugboat chugs by with a floating apartment building in tow. The year is 2024, and Friedman lives on a so-called seastead, a waterbound city of some 1,000 people who produce their own food, their own energy and -- most important -- their own laws.
Facebook Inc. and Chairman Mark Zuckerberg’s program of letting company directors set their own pay, capped at stock currently worth $145 million per person, wastes corporate assets, an investor said in a lawsuit.
Peter Thiel got rich investing in PayPal and Facebook Inc. before most people knew them, built a hedge fund that at its apex managed $7.2 billion, and forecast the collapse of the U.S. housing market. He also lost almost two-thirds of his clients’ money.
Facebook Inc. director Peter Thiel, who sold more than 16 million shares in the company’s initial public offering, has given himself added flexibility to sell more of his holdings, a regulatory filing shows.